Jan 21, 2021 / 08:30AM GMT
Operator
Ladies and gentlemen, welcome to the Q1 Trading Update Call for The Sage Group. Your presenter today will be Jonathan Howell, Chief Financial Officer; who is joined by James Sandford, Head of Investor Relations.
I would now like to hand the conference over to Jonathan Howell. Please go ahead, sir.
Jonathan Anton George Howell - The Sage Group plc - CFO & Director
Thank you very much, and welcome, everyone, to Sage's Q1 trading update. I do hope you are all safe and well. First, I'll give you an update on the key numbers and also on the performance of the business. And after that, we can open for Q&A. Just as a reminder, all numbers in the trading statement are on an organic basis.
Sage performed in line with expectations in the first quarter against strong comparators. Recurring revenue was up by 4.7% to GBP 408 million. This was supported by software subscription growth of around 11% to GBP 303 million. As a result, subscription penetration is now at 68%, up from 65% in FY '20.
Regionally, North America delivered growth in
Q1 2021 Sage Group PLC Trading Statement Call Transcript
Feb 14, 2024
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